Mass Dept of Environmental Protection via flickr
July 19, 2012
ALBANY, N.Y. (AP) - Sen. Charles Schumer has launched an effort to spur redevelopment of abandoned gas stations and other contaminated brownfield sites across upstate New York.
Schumer announced his push to extend the expired Brownfields Tax Incentives on Wednesday. The incentives would allow all environmental cleanup costs at eligible properties to be tax deductible in the year incurred.
Ground contaminated by petroleum makes up half of the 450,000 brownfields in the U.S., according to the Environmental Protection Agency. These sites are often on high-traffic streets and in commercial retail areas that would be good for new development.
Schumer says he'll fight to ensure that the brownfields tax cut is included in a package of expired tax cuts the Senate is expected to take up before the end of the year.
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